The polyalkylene glycol (PAG) base oil market offers a wide range of applications and serves various end-use industries. Applications include hydraulic oil, gear oil, compressor oil, metalworking fluids, greases, and more. End-use sectors encompass automotive, aerospace, marine, tooling and industrial equipment, HVAC and refrigeration, and others. PAG base oils are highly versatile and known for their excellent lubrication properties, making them integral in diverse industries to ensure optimal performance and protection in various mechanical systems and equipment.
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Data Bridge Market Research analyses that the Europe Polyalkylene Glycol (PAG) Base Oil Market value, which was 13,00,007.06 thousand in 2021, is expected to reach the value of USD 1,672,566.10 thousand by 2029, at a CAGR of 3.2% during the forecast period 2022-2029. The demand for high-performance lubricants in the growing industrial and automotive sectors drives the polyalkylene glycol (PAG) base oil market. PAG base oils are preferred for their superior lubricating properties, making them a compelling choice in these industries.
Key Findings of the Study
Energy efficiency is expected to drive the market's growth rate
PAG base oils play a significant role in the polyalkylene glycol (PAG) base oil market by contributing to energy-efficient machinery. Their low friction characteristics and exceptional lubrication properties reduce energy consumption in various applications, aligning with sustainability goals. This driver is particularly relevant in today's environmentally conscious industries, where the demand for more efficient, eco-friendly lubricants has surged, driving the adoption of PAG base oils to achieve performance and sustainability objectives.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014-2019)
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Quantitative Units
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Revenue in USD Thousand, Volumes in Units, Pricing in USD
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Segments Covered
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Product (Conventional (Water Insoluble), and Water-Soluble), Application (Hydraulic Oil, Gear Oil, Compressor Oil, Metal Working Fluids, Greases, and Others), End-Use (Automotive, Aerospace, Marine, Tooling and Industrial Equipment, HVAC and Refrigeration, and Others)
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Countries Covered
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Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe.
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Market Players Covered
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TotalEnergies (France), Phillips 66 Company (U.S.), Exxon Mobil Corporation (U.S.), Royal Dutch Shell plc (U.K.), Denso Corporation (Japan), BASF SE (Germany), Eni Oil Products (Italy), Chevron Corporation (U.S.), FUCHS (Germany), Croda International Plc (U.K.), Hornett Bros & Co Ltd. (U.K.), PETRONAS Lubricants International (Malaysia), LIQUI MOLY GmbH (Germany), Morris Lubricants (U.K.), Ultrachem Inc. (U.S.), Idemitsu Kosan Co., Ltd. (Japan)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Segment Analysis:
The Europe polyalkylene glycol (PAG) base oil market is segmented on the basis of product, application, and end-use.
- On the basis of product, the Europe polyalkylene glycol (PAG) base oil market is segmented into conventional (water insoluble) and water-soluble.
- On the basis of application, the Europe polyalkylene glycol (PAG) base oil market is segmented into hydraulic oil, gear oil, compressor oil, metal working fluids, greases, and others.
- On the basis of end-use, the Europe polyalkylene glycol (PAG) base oil market is segmented into automotive, aerospace, marine, tooling and industrial equipment, HVAC and refrigeration, and others.
Major Players
Data Bridge Market Research recognizes the following companies as the Europe polyalkylene glycol (PAG) base oil market players in Europe polyalkylene glycol (PAG) base oil market are TotalEnergies (France), Phillips 66 Company (U.S.), Exxon Mobil Corporation (U.S.), Royal Dutch Shell plc (U.K.), Denso Corporation (Japan), BASF SE (Germany), Eni Oil Products (Italy).
Market Developments
- In December 2021, Shell New Energies US LLC, a subsidiary of Royal Dutch Shell plc, completed the acquisition of Savion LLC, a prominent utility-scale solar and energy storage developer in the United States. This strategic acquisition aligns with Shell's commitment to expanding its renewable energy and sustainability presence. It will enhance Shell's position in the growing clean energy market, contributing positively to its environmental and business goals.
- In July 2021, DENSO CORPORATION introduced "The COREs," its new online media website. This digital platform is an informative and interactive channel for Denso to engage with a wider audience, including customers. By offering valuable content and resources through this online medium, Denso aims to enhance its digital presence, strengthen customer relationships, and effectively communicate its innovations, products, and services to a broader online audience.
For more detailed information about the Europe polyalkylene glycol (PAG) base oil market report, click here – https://www.databridgemarketresearch.com/reports/europe-pag-base-oil-market
